Carnival of Financial Planning – Edition #139 – April 30, 2010
Welcome to the April 30, 2010 Edition #139 of the Carnival of Financial Planning.
The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security.
This edition is arranged by subject heading, so that you can browse efficiently.
Enjoy!
The Skilled Investor, Editor
Budgeting and Economics
Jeff Rose, CFP presents Dave Ramsey’s Financial Peace University Introduction posted at Jeff Rose.
KCLau presents Global Spending: How People Spend their Money posted at KCLau’s Money Tips, saying, “Results from a World Bank study entitled “Global Purchasing Power Parities and Real Expenditures 2005 International Comparison Program†spanning 2003 – 2008.”
Control your Cash presents Who are you trying to impress? posted at Control Your Cash, saying, “Spending money on a wedding is one of the surest, most effective ways of getting your financial life off to a treacherous footing.”
Super Saver presents Living on a Cash Basis was a Good Experience posted at My Wealth Builder, saying, “Living on a cash basis quickly taught me financial responsibility.”
KCLau presents Global Spending: How People Spend their Money posted at KCLau’s Money Tips, saying, “Results from a World Bank study entitled “Global Purchasing Power Parities and Real Expenditures 2005 International Comparison Program†spanning 2003 – 2008.”
The Financial Blogger presents Why The Loonie Is As Strong as a Bear? posted at The Financial Blogger, saying, “It’s been more than a year that our Canadian Loonie has been beating on the greenback and we have now reached the moment when most economists predictions will become reality: the elusive state of parity between the Canadian and US dollar.”
The Skilled Investor presents Saving Money posted at Personal Finance Decisions, saying, “The most dominant determinants of your long-term financial well-being are how much you earn, spend, budget, and save. Budgeting and self-control in consumption is far more important than clever investing. Expenditure control and budgeting works, while “clever” investing usually is counter-productive.”
Estate Planning
FMF presents Your Parents’ Estate Plan Part 2: What You Need to Know posted at Free Money Finance, saying, “Helping your parents through estate planning issues.”
Arjun Rudra presents 4 Steps to a Well Planned Estate Distribution posted at Investing Thesis, saying, “Most people do not want the government to determine how your estate will be distributed, should you die intestate. This article highlights 4 important considerations to a well planned estate distribution.”
Jeff Rose, CFP presents How To Select a Guardian for Your Children posted at Jeff Rose.
Financial Planning
Adam presents Emergency Post -Reassessing Spending Choices: Is what works for you really working? posted at Magical Penny, saying, “ometimes reading different perspectives on money and spending can challenge you to think beyond your own life experiences to better assess the value of a purchase or lifestyle choice”
Dividend Tree presents Building Core Competency for Long Term Survival posted at Dividend Tree, saying, “whether it is running a business or individuals’ investment portfolio, it is important to build a core competency for long term sustainability. In my case, I focus on good quality companies that consistently pay or have potential to pay growing dividends over time.”
Roshawn Watson presents Through the Looking Glass posted at Watson Inc, saying, “Do you really believe in a world of financial abundance? Could you ever have too much money? Could you ever even conceive of summering in the Hamptons for $35,000 per night? Pregnant in your answer is a revelation of your core belief system regarding money”
jim presents How Long Should I Keep Financial Documents? posted at Blueprint for Financial Prosperity.
Kim Luu presents Non Profits Tax Exempt Status Puts Donors At Risk posted at Money and Risk, saying, “After May 15th, hundreds of thousands of 501(c)(3) lose their tax exempt status. Donors who contribute to these organization will also lose their tax deduction. Article gives details.”
Big Cajun Man presents Personal Finance Resolutions for the New Year? posted at Canadian Personal Finance Blog, saying, “Are Financial New Years resolutions a good idea? Yes, but make them achievable, don’t try to boil the ocean, just take small steps!”
Larry Russell presents Mutual Fund Load posted at Top Index Mutual Funds, saying, “Superior past performance has simply not been shown to be a reliable predictor of superior future performance. However, low costs can lead you to the best mutual funds.”
Roshawn Watson presents What’s Your Financial Mindset posted at Watson Inc, saying, “A study by Nielson and research firm Inmar has illuminated the spending habits of the affluent. Did you know that affluent households tend to be heavier coupon users than those with lower incomes? This is one of the ways a person gains a high net worth in the first place: he knows how to spot a deal”
Madison DuPaix presents –› Approaching My Financial “Scary Age†posted at My Dollar Plan.
Frank Knight presents Roth IRAFinancial Software posted at Financial Freedom Plan, saying, “Whether to invest in a Roth IRA or Roth 401k versus their traditional retirement account alternatives is one of the most complex personal financial decisions. Roth accounts do not make sense financially for most people. They are a good deal, for a minority, but you need to do the analysis.”
Super Saver presents I Avoid Financial Advisors with These Characteristics posted at My Wealth Builder, saying, “In my experience, I have found it challenging to connect with a person that matches what I expect in an excellent financial advisor. Many candidates have what I consider a “fatal flaw” in a financial advisor.”
Nigel Savers presents Asset AllocationPersonal Financial Plan, posted at Pasadena Financial Planner saying, “Diversification means that the specific risks of businesses and other investment entities can be eliminated from a portfolio without reducing expected returns. You should diversify your investments completely and globally – now and always.”
LearnSaveInvest presents Ten Rules To Make You Independently Wealthy posted at Learn Save Invest, saying, “Ten tried and true rules that will make you independently wealthy.”
Financing a Home
Nat presents Which Home Loan Is Right for You? posted at National Real Estate Blog, saying, “Whether you are buying your first home or are a repeat home buyer, you need to consider which home loan in the current economy is going to work to your greatest advantage. You’ll need to figure out your own home buying needs, what’s available and which loan works best for your situation.”
Ryan @ MFN presents How to Apply for a VA Loan posted at Military Finance Network, saying, “A VA Loan is a great way to finance a home, but there are several steps you need to take before you can qualify for and obtain a VA Loan.”
Financing Education
Ryan @ MFN presents History of the GI Bill posted at Military Finance Network, saying, “A brief history of the GI Bill, one of the best ways for military veterans to pay for college.”
MoneyNing presents How to Use a 529 Plan to Improve College Savings posted at Money Ning, saying, “A 529 plan can help your college savings tremendously. Check out how the government can help contribute!”
Health Care
PT presents Buying Health Insurance as a Self Employed Individual posted at Prime Time Money, saying, “I share my recent experience with buying private health insurance after quitting my job.”
Joe Plemon presents The New Health Care Bill: A Prescription for Diminished Health Care posted at Personal Finance By The Book, saying, “Yes, the health care bill passed. I predict the long term consequences will be poorer health care.”
Income
FMF presents How to Ask for a Raise posted at Free Money Finance, saying, “Sometimes you need to take the bull by the horns and ask for a raise. This post give tips on how to do so to make the most of your “ask.”"
Mike @ Green Panda presents 10 Promising Sectors for the Next Decade posted at Green Panda Treehouse, saying, “Choosing your career at the age of 20 is not an easy thing.Which jobs will be paid well by employers for the next 10 years? Here are my top ten picks (in no particular order) of the best sectors”
jim presents Dividend Champions posted at Blueprint for Financial Prosperity.
Craig Ford presents How To Start A Business For Teens This Summer posted at Money Help For Christians, saying, “A step by step guide for teens whow are interested in starting a summer business.”
Investing
Consumer Boomer presents ETF’s to Buy to Hedge For Inflation posted at Consumer Boomer.
Zach Scheidt presents Employment Issues Trigger “Backsourcing†posted at ZachStocks, saying, “Outsourcing Employment is becoming less of a competitive advantage for US based business. Stimulus programs to encourage employment is prompting “backsourcing” Here are some short candidates that will fall because of the trend”
Four Pillars presents Use Your Cell Phone Apps To Manage Your Money posted at Quest For Four Pillars, saying, “Some cell phone apps to help track your finances”
Frank Vertin presents Best Index Funds posted at Noload Mutual Fund, saying, “Useful information on the top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.”
Jeff Rose, CFP presents Roth IRA Eligibility Guidelines posted at Jeff Rose.
Praveen presents Lichello’s AIM System posted at My Simple Trading System, saying, “A look at Robert Lichello’s AIM stock investing system, which was popular in the 1970’s and then went out of style.”
Frank Knight presents Municipal Bond Financial Software, posted at Personal Finance Software, saying, “Municipal bond investments and your state and federal marginal income tax rates: Some investors hold municipal bonds in an attempt to reduce their tax burden. This article discusses the relationships between tax-exempt municipal bonds, bond market returns, marginal tax rates, and investment asset tax location.”
Silicon Valley Blogger presents Best Online Stock Brokers For Cheap Stock Trades posted at The Digerati Life, saying, “My own take on top brokers.”
Super Saver presents Bubble Time? posted at My Wealth Builder, saying, “While I feel good about the financial rebound from the bottom of March, 2009, I am concerned that a new bubble is forming. I have no hard data yet. At this point, I only have anecdotal evidence.”
Tushar Mathur presents Can’t Control the Markets? Try controlling the Costs posted at Everything Finance, saying, “As 2008 proved, the financial markets are prone to unpredictable periods of turbulence. That can make investing feel a bit like a roller-coaster ride. The disappointing results that many mutual funds posted in 2008 and at the outset of 2009 may have left you feeling concerned over your financial future. You’re not alone.”
Tomas Escent presents Automated Stock Trading posted at Nerds on Wall Street, saying, “A little artificial intelligence goes a long way on Wall Street. If you give someone a program, you will frustrate them for a day; if you teach them how to program, you will frustrate them for a lifetime.”
Zach Scheidt presents Homebuilders – Too Far Too Fast? posted at ZachStocks, saying, “As institutional mangers begin to shun risk, the homebuilders may take on water. KB Home (KBH) is one of the more vulnerable homebuilders which may be worth shorting.”
The Skilled Investor presents Market Timing posted at Investment Portfolio Management, saying, “Stay invested always in the securities markets to earn risk premiums. You must have your money invested and at risk to get risk premium returns. Jumping out and in or “timing the markets” doesn’t work. Professionals and amateurs are both really lousy at market timing.”
2 Cents presents Bulls vs. Bears: Who’s Right? posted at Balance Junkie, saying, “This article presents a bull-bear debate on the issues currently affecting the market.”
Managing Debt
FMF presents Free Money Finance: Lending and Borrowing posted at Free Money Finance, saying, “Tips on when to borrow and lend.”
The Smarter Wallet presents Are Debt Counseling Services The Way To Debt Relief? posted at The Smarter Wallet, saying, “On debt counseling services.”
Big Cajun Man presents Do You Have a Financial GPS? posted at Canadian Personal Finance Blog, saying, “Do you need a financial GPS?”
Ryan @ CML presents Difference Between PrePaid and Secured Credit Cards posted at Cash Money Life, saying, “Prepaid and secured credit cards are great options for people who don’t have good credit.”
Miscellaneous
Joe Plemon presents Stretch the Life of Your Mower by Giving Him a Name posted at Personal Finance By The Book, saying, “The best way to extend the life of your mower is to care for him, but if you are less than meticulous about equipment maintenance, naming him works pretty well.”
Ryan @ CML presents Teach Children Good Money Habits Early posted at Cash Money Life, saying, “It’s never too early to start teaching your children about money. Start them off on a good path by teaching them about money as soon as they are old enough to understand.”
Pasadena Financial Planner presents Mutual Fund Investment Performance posted at Top Mutual Fund, saying, “Compares Vanguard’s actively managed mutual funds and Vanguard’s passively managed index mutual funds. Vanguard investors should read and understand this study.”
Tom @ Canadian Finance Blog presents Should You Use A Real Estate Agent To Sell Your House? posted at The Canadian Finance Blog, saying, “There are pros and cons to either using a real estate agent or selling your house on your own.”
Retirement Planning
Jules Wells presents Retirement Calculator-Retirement Savings Software, posted at Retirement Financial Planning, saying, “This article helps you understand the trade-offs between “traditional†and “Roth†tax-advantaged retirement plan contributions, including Roth 401k and IRA retirement plans. It helps with the 2010 Roth conversion decision.”
The Financial Blogger presents Freedom 75 posted at The Financial Blogger, saying, “Life is full of irony! While my retirement goal is to stop being part of the rat race by 35, we see more and more people working pass the “normal†age of retirement of 65. I must admit that most of us will define themselves according to our job: “Hello Mike, nice to meet you, tell me, what are you doing in life?†A) I am me. B) I am a father. C) I am a passionate man who loves watching hockey, playing golf, blogging, play soccer with my son and making pony tails to my little girl, and.. and.. bla blab la… D) I am a financial planner / web entrepreneur I can tell that most people will answer “Dâ€. So if we define ourselves according to our job, what do we become if we quit working?”
Ryan @ MFN presents How Military Service Affects Your Social Security Benefits posted at Military Finance Network, saying, “Military service can affect your social security benefits. Here is the information you need to know!”
Consumer Boomer presents What Is The “Best†Roth IRA Interest Rate? posted at Consumer Boomer.
Larry Russell presents Roth IRA Conversions posted at Best Financial Planning Software, saying, “Trying to decide about a traditional IRA to Roth IRA conversion without first having a comprehensive lifetime financial plan in place makes absolutely no sense. Without such a plan, you cannot figure out whether or not you are likely to achieve the tax savings in retirement that would warrant paying higher taxes now.”
Risk Management and Insurance
Consumer Boomer presents Questions to Ask Before You Buy Insurance posted at Consumer Boomer.
Savings
KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets”
MoneyNing presents 10 Situations in Which DIY is More Expensive posted at Money Ning, saying, “DIY is not always the most cost effective way of doing things.”
Taxes
Four Pillars presents How Long Before I Get My Income Tax Refund? posted at Quest For Four Pillars, saying, “A guideline for how long you have to wait for a tax refund.”
David de Souza presents Have you given the government an interest-free loan? posted at UK Tax Blog, saying, “Are you inadvertently giving the government a tax free loan? Any tax refund that you receive is money you should have received with your income. Read more to find out if you are overpaying tax.”
Financial Freedom Plan presents Roth IRA ConversionFinancial Software, posted at My Financial Freedom, saying, “The Roth tax optimization puzzle for asset conversions, as well as for annual Roth contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon individuals.
That concludes this edition. Submit your blog article to the next edition of Carnival of Financial Planning using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
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